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November 18, 2019

KP pharma help

Newspost

 
November 18, 2019

The pharmaceutical manufacturing industry does not produce pollution, does not require excessive electricity or gas, hires more women and produces products that can easily be exported. Khyber Pakhtunkhwa has more than 45 pharmaceutical manufacturing units that have been facing difficulties due to security instability and natural disasters occurring in the region over the past years. Pakistan's pharmaceutical companies cannot export their products to the EU and the US like India’s pharma companies because of the inability to conduct bio-equivalence BE research studies on Pakistani products. These BE studies are very costly and in India the government provides these facilities to their companies which enables them to export around the world.

To help introduce new companies to export, this year the BE studies requirements for a few products have been drastically reduced helping bring down the costs to Rs1.8 million. Two companies in Pakistan are offering BE study service for local pharmaceuticals. If the KP government provides funds up to Rs4 million to each pharmaceutical company in KP to conduct BE research studies on their products, it would enable them to start exporting their products. The funds can be provided from the Central Research Fund (CRF) collected by DRAP for such purposes or via banks through the SDP SME fixed six percent loan facility. This will enable these companies to start exporting, greatly increase their revenue, create more jobs and increase the inflow of foreign revenue from sales. I therefore request the help of CM KP and the finance minister of KP for allowing such facility to the pharma companies of KP to increase their exports and revenue, which would greatly improve the pharma SME sector and increase jobs in the sector.

Engr Shahryar Khan Baseer

Peshawar

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